Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells 249,582 Shares of Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 249,582 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $32.04, for a total value of $7,996,607.28. Following the sale, the insider now directly owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Ice Mountain Llc also recently made the following trade(s):

• On Friday, April 19th, Ice Mountain Llc sold 43,690 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $31.93, for a total value of $1,395,021.70.
• On Monday, April 15th, Ice Mountain Llc sold 103,768 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $31.96, for a total value of $3,316,425.28.
• On Thursday, April 11th, Ice Mountain Llc sold 1,223 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $32.20, for a total transaction of $39,380.60.
• On Monday, April 8th, Ice Mountain Llc sold 49,828 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $32.07, for a total transaction of $1,597,983.96.
• On Friday, April 5th, Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $32.18, for a total transaction of $1,614,534.96.

Zurn Elkay Water Solutions Price Performance

NYSE:ZWS opened at $31.88 on Friday. Zurn Elkay Water Solutions Co. has a 1-year low of $20.06 and a 1-year high of $34.58. The company has a current ratio of 3.02, a quick ratio of 1.77 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $31.93 and a 200 day simple moving average of $29.99. The stock has a market capitalization of $5.52 billion, a PE ratio of 44.90, a P/E/G ratio of 1.82 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.87% and a net margin of 8.11%. The business had revenue of $374.00 million during the quarter, compared to the consensus estimate of $369.43 million. During the same quarter last year, the firm posted $0.18 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, research analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio is 45.07%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several hedge funds have recently added to or reduced their stakes in ZWS. Principal Securities Inc. acquired a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $34,000. Benjamin Edwards Inc. acquired a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $42,000. IFP Advisors Inc lifted its holdings in Zurn Elkay Water Solutions by 70.9% during the 3rd quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock valued at $72,000 after purchasing an additional 1,064 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth $76,000. Finally, Assetmark Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 32.9% during the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock worth $85,000 after buying an additional 718 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ZWS shares. BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company. Mizuho cut shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.50.

About Zurn Elkay Water Solutions

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.